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Sales and Marketing
Sep 15, 2009
Craft a winning sales and marketing plan
by Rafael Santos. Images courtesy of sxc.hu
Like a business compass, a sales and marketing plan determines your venture's direction. Here, 4 sure-fire steps to craft a sales and marketing plan that works

A company exists solely to provide a product or service to an end user. But sometimes, even a great product can stumble out of the gate because it lacks the proper ‘push’. After all, if your product doesn’t exist in the minds of consumers, you’re deeply in trouble.

A lack of marketing focus can be found in both small and big businesses alike, according to small business consultant Oliver Juinio of Business Mentor, a business consulting company. According to him, structuring a good sales and marketing technique can help your business to take off.

Juinio lists a few steps to help business owners start crafting a sales and marketing plan:

1. Define who your ideal client is: Every company should have what may be termed as an 'ideal client profile'. That is, you should have in mind your perfect customer. That customer who may buy a low-priced product from you and then move up to buy higher ticket items and ultimately stay with you for years, recommending your product and service to other potential clients.

“Zeroing in on an ideal client is essential, because it is a good yardstick of what your company will be in the future. This can help you determine who your existing clients are, or help you re-evaluate your sales strategy. Find a ‘niche market’ and continue to serve and exploit opportunities in that market,” Juinio said.

2. Define your product funnel:
Ideally you should have a range of products and services, starting from low-priced items, and steadily moving up in price to your highest-ticket product or service. Juinio says sticking to your core product and maximizing it is the key at first, then as the business grows you can start diversifying.

“A common mistake is taking too many routes, too many products. Master one product line first, grow and stick to it, until such time it has become stable enough. Then, you can start thinking about expanding your services,” he said.

As an example, he cites a client of his that started a home-based bakery business that suffered from poor sales in its first few months. When he asked what kind of marketing strategy they were using, the business owner said he felt that the business needed little of it because he believed that the products would sell themselves.

"The problem with that thinking is it doesn't take into account that there is always competition. That is why creating a marketing plan, even a simple one like distributing flyers to announce your business, is very important. Pricing strategies must also be tied to the plan, because even if you have the lowest price or the best product, if there is no visibility to customers, it doesn't exist. Building up your products, in his case his cupcakes, really helps you become recognized in the market," he said.

3. Decide where you will bring in each client:
This refers to your product funnel in conjunction with the ideal client profile. It may make sense to bring in some clients to purchase your lowest-priced product in order to gain trust, and then move them up in price. With other clients, you may market to them so they come in straight to purchase higher-priced products.

"This is where customer service comes in. Customer service means you must consistently deliver what you promise, and therefore earn the trust of the client. I had a client that ran a drugstore, which is a very trust-oriented business. We improved the service quality of his front liners and sold clients on the relative merits of patronizing his store. This move led to more credibility for the drugstore, and now it has started franchising already," Juinio said.

4. Devise a consistent marketing strategy
. You must put processes in place to ensure that your business generates a steady buzz no matter the season. Being consistent in trying to communicate with target customers is key to building trust, and encouraging them to choose your business over the competition.

"When you are constantly out there marketing and using the right channels, chances are your target customers will retain your message. Every business should make it a goal of becoming top-of-mind when it comes to their respective industry, and when you start getting more customers, always try to maintain the quality of your service to increase your chances of repeat business," Juinio said.

The heart and soul of every business is sales and marketing; whether you are running a dry-cleaning service, soap-making business, food cart, carpentry, or any other kind of business, the process of getting the message of your products and services out to the marketplace is critical to the long term success of your venture. Companies that spend money and time to go through a strategic marketing and sales plan are usually the ones that exhibit good growth numbers.

“Most entrepreneurs are good at what they do, but have no formal training in sales and marketing. This is something that a business should always work on, because it is the lifeblood of the company. Try to focus on specific products, clients, and industries because a shotgun approach to marketing turns people off and generally doesn’t deliver the desired results,” Juinio said.


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Comments

1. yogesh says: nice artical, very benefitical.
September 19, 2009 at 3:17PM

2. yogesh says: nice artical, very benefitical.
September 19, 2009 at 3:17PM

3. Geli says: I am just starting and learn good points.
October 6, 2009 at 8:05AM


 

“Joining bazaars is a surefire way of not just cornering clients but of networking as well.”

— Angela Rayos,  Alcohol Affair
(Entrepreneur, September 2009)

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